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The Australian and New Zealand dollars recovered on Friday after a sharp overnight slide, with the Aussie holding near $0.7667 and the kiwi near $0.7165. Both currencies were still down for the week, and the Aussie fell as iron ore prices dropped on Beijing's plans to restrain steel production.
Weaker iron ore and Chinese steel curbs signal softer Chinese industrial demand, which can weigh on the commodity-linked Aussie dollar. For feed buyers, this has little direct effect on grain or meal prices.
brecorder.comReutersJan 29, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
